Solar shift: Falling costs make owning better than leasing
The price of rooftop solar systems for residential and small business continues to drop precipitously, and consumers are increasingly choosing to buy their systems rather than lease them to reap the full financial benefits.
Rooftop solar systems that used to cost as much as a luxury car five to 10 years ago now cost about the same as an economy car, or about $15,000 or $18,000 on average. And, the return on investment for a solar system is now estimated to be from three to five years, depending on government rebates and tax incentives and the region in which they're installed.
In 2014, 72% of residential solar systems in the U.S. were owned by a third party, such as SolarCity, Vivant Solar and Sunrun, according to a report by GTM Research.
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